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Persistent link: https://www.econbiz.de/10010230231
In this paper, we examine timely loss reporting for U.S. firms with a dual-class share structure, i.e., firms characterized by a divergence (wedge) between insiders' voting rights and cash flow rights. In our primary analysis, we find compelling evidence that the wedge (quantified by excess...
Persistent link: https://www.econbiz.de/10012905225
Persistent link: https://www.econbiz.de/10010407890
This study investigates whether the agency conflicts inherent in a dual class ownership structure are associated with the level of firms' tax avoidance. Dual class ownership presents a unique agency problem because insiders' voting rights (i.e., insiders' ability to control the firm) exceed...
Persistent link: https://www.econbiz.de/10013130123